Tandem Diabetes Care (TNDM) Shares Gap Down to $2.35

Tandem Diabetes Care Inc (NASDAQ:TNDM)’s share price gapped down before the market opened on Monday . The stock had previously closed at $2.55, but opened at $2.35. Tandem Diabetes Care shares last traded at $2.35, with a volume of 6296400 shares changing hands.

Several research firms have recently commented on TNDM. Robert W. Baird restated a “hold” rating and set a $3.00 price target on shares of Tandem Diabetes Care in a report on Sunday, November 19th. Zacks Investment Research cut shares of Tandem Diabetes Care from a “buy” rating to a “hold” rating in a report on Saturday, January 20th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $11.29.

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The company has a debt-to-equity ratio of -2.70, a quick ratio of 0.88 and a current ratio of 1.90. The stock has a market cap of $23.78, a price-to-earnings ratio of -0.12 and a beta of 0.44.

Institutional investors have recently bought and sold shares of the company. Wedbush Securities Inc. lifted its stake in shares of Tandem Diabetes Care by 88.6% in the 3rd quarter. Wedbush Securities Inc. now owns 188,877 shares of the medical device company’s stock valued at $138,000 after purchasing an additional 88,709 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Tandem Diabetes Care by 13.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 659,993 shares of the medical device company’s stock valued at $482,000 after purchasing an additional 78,748 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Tandem Diabetes Care by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,233,607 shares of the medical device company’s stock valued at $987,000 after purchasing an additional 32,991 shares during the last quarter.

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Tandem Diabetes Care Company Profile

Tandem Diabetes Care, Inc is a medical device company. The Company is engaged in designing, developing and commercializing products for people with insulin-dependent diabetes. The Company manufactures and sells three insulin pump products, which include t:slim Insulin Delivery System (t:slim), t:flex Insulin Delivery System (t:flex) and t:slim G4 Insulin Delivery System (t:slim G4).